The Fair Share Report
3 Old Rd
Monroe, NJ 08831
The town corrects for market drift once a year — but only on average. This report measures whether this house drifted with the herd or away from it.
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Step 1 · Market value
Likely range $528,572 – $902,067, from 12 comparable Monroe sales in the past 18 months (home size estimated from assessor data — range widened).
Step 2 · The Director's Ratio
The state's official measure of how far Monroe assessments sit below market value — republished every October, applied town-wide. A $733,863 home should be assessed near $395,332.
Step 3 · Assessed value
Set at the last town-wide revaluation and mostly frozen since. That's $35,968 above what the ratio math suggests (9.1%).
Step 4 · The tax rate — same for every Monroe home
$1.535 Schools · 56% $0.608 County · 22% $0.596 Town · 22%
Step 5 · The bill
This home vs. every recent Monroe sale · assessed ÷ market
22%87%
Paying about right
This home's ratio lands inside Monroe's normal band. The drift hasn't singled it out — no case for a tax appeal.
The evidence · comparable sales (SR1A usable-sale records)
| Address | Sold | Price | Sq ft | Ratio |
|---|---|---|---|---|
| 675A YARBOROUGH WAY SOUTH | 2026-04 | $541,000 | 2,682 | 43.1% |
| 6 ELLIOT DRIVE | 2025-12 | $855,000 | 2,667 | 61.4% |
| 136 BIRMINGHAM LANE | 2026-01 | $555,000 | 2,576 | 42.5% |
| 2 GUINEVERE ROAD | 2026-03 | $1,075,000 | 2,480 | 46.0% |
| 11 PATIO COURT | 2025-06 | $799,999 | 2,642 | 64.9% |
| 21 TANGLEWOOD PLACE | 2025-07 | $1,030,000 | 2,917 | 55.9% |
| 415 SPOTSWD-ENGTWN RD. | 2025-11 | $825,000 | 2,942 | 65.9% |
| 3 GUINEVERE ROAD | 2025-01 | $880,000 | 2,437 | 58.1% |
| 12 WINTONS WAY | 2025-12 | $612,000 | 2,619 | 45.2% |
| 221 VALENCIA DRIVE | 2025-11 | $650,000 | 2,558 | 54.7% |
| 1 WESTBORO LANE | 2026-01 | $540,000 | 2,886 | 53.6% |
| 1 PHILLIP CT. | 2026-01 | $555,000 | 2,611 | 53.1% |
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